Are You a Landlord?
You may want to read this.......
Wanting to work for yourself can be a dream job or a nightmare, especially when it comes to being a landlord! Whether commercial or residential, there will always be those tenants that make you regret not taking certain steps and precautions to protect your investments. Then there will be times that you will kick yourself for not properly preparing, which most of the time leads to you losing that interested prospect. Whatever the case or situation, we want you to learn from your mistakes and become an even better property manager. We put together a list of commonly made mistakes; in hopes of maybe helping you accomplish your goals or become more successful in your profession.1. Not running efficient credit/criminal check because property has been vacant
2. Showing a property that has not been maintained.
3. Not having a procedure for evictions or not following procedures in place (accept partial payments)
4. Not properly preparing for court such as missing docs, receipts and proof of notices delivered.
5. Stubbornness- not fixing maintenance items b/c lease states otherwise. Small issues will lead to bigger issues.
6. Not running credit/criminal on your maintenance vendors
7. Meeting your maintenance vendors at home depot – setting up an account
8. Purchasing property but not enough capital to fix it up. Performing maintenance over a long period.
9. Pay maintenance vendor up front
10. NOT keeping good accounting records
11. NOT viewing the resident as a customer but as a nuisance or bother….
12. Not leveraging the Realtor to lease up the property
Just remember, in the world of customer service, you must ALWAYS keep your clients happy no matter how easy or difficult they may be. You must also handle all issues equally and stand our ground when certain terms and rules are broken in your policy. No one should be able to take advantage or manipulate the rules, this will usually lead to lots of money and time lost.
#houstonrealtor #landlord #helpfultips
IF YOU OR ANYONE YOU KNOW IS IN THE MARKET TO BUY, SELL OR LEASE.....YOUR REFERRALS ARE ALWAYS APPRECIATED! =)
ALLEN JIMENEZ
REAL ESTATE BROKER
BROKER@TEXASREALTYPROS.COM
